Expansion of Global Currencies

The expansion of global currencies has exceeded nine percent over the last
year.

This essay investigates which currencies are contributing the most to this
development. One hundred currencies from 95 sovereign nations and five monetary
unions have been examined.

The following pie chart shows the relative value of global currencies (M0)
when converted to USD for means of comparison.

The Euro, US Dollar, Japanese Yen and Chinese Renminbi (Yuan) make up nearly
three-quarters of the value of all circulating currency. While smaller currencies
may be increasing at a faster rate, even minor percentage increases in any
of these dominant currencies significantly changes the overall global totals,
as evidenced by comparing the two tables below:

Twenty Fastest Growing Currencies
in Relative Terms

Rank

Country

Currency Code

Y-O-Y Increase in M0

Date

XRATE

Billions

%

US$ Billions

1

Iran

IRR

77855.0

97.4%

8.2

Mar-09

0.00010

2

Iceland

ISK

7.4

58.7%

0.1

Aug-09

0.00826

3

Angola

AON

46.6

47.1%

0.6

Apr-09

0.01337

4

Tajikistan

TJS

0.4

37.9%

0.1

Jul-09

0.22780

5

Iraq

IQD

5182.2

35.1%

4.5

Feb-09

0.00088

6

Venezuela

VEF

4.4

29.6%

2.1

Aug-09

0.46680

7

UAE

AED

7.7

26.5%

2.1

Mar-09

0.27230

8

Albania

ALL

40.9

26.4%

0.5

Dec-08

0.01164

9

Israel

ILS

6.9

25.1%

1.8

Aug-09

0.26240

10

Lebanon

LBP

453.2

24.7%

0.3

Aug-09

0.00068

11

Sudan

SDG

1.2

21.8%

0.5

Mar-09

0.44180

12

Turkey

TRY

5.9

21.0%

3.9

Aug-09

0.67420

13

Azerbaijan

AZN

0.6

20.8%

0.7

Mar-09

1.24560

14

Algeria

DZD

277.3

20.6%

3.8

Mar-09

0.01354

15

Tanzania

TZS

225.8

19.8%

0.2

Mar-09

0.00077

16

Libya

LYD

1.0

19.3%

0.4

Jul-09

0.82450

17

Suriname

SRD

0.1

18.8%

0.0

Jun-09

0.37040

18

Indonesia

INR

1093.6

18.6%

22.6

Aug-09

0.02070

19

Pakistan

PKR

176.2

17.3%

2.1

Aug-09

0.01208

20

Philippines

PHP

62.5

16.3%

1.3

Jun-09

0.02079

Twenty Fastest Growing Currencies
in Terms of US Dollars

Rank

Country

Currency Code

Y-O-Y Increase in M0

Date

XRATE

Billions

%

US$ Billions

1

EU

EUR

87.9

13.4%

125.7

Aug-09

1.43080

2

US

USD

81.4

10.5%

81.4

Aug-09

1.00000

3

China

CNY

355.5

11.5%

52.1

Aug-09

0.14660

4

India

INR

1093.6

18.6%

22.6

Aug-09

0.02070

5

Iran

IRR

77855.0

97.4%

8.2

Aug-09

0.00010

6

UK

GBP

4.2

8.4%

6.8

Mar-09

1.62750

7

Japan

JPY

551.6

0.8%

5.9

Aug-09

0.01070

8

Brazil

BRL

8.5

11.1%

4.6

Aug-09

0.54600

9

Mexico

MXN

60.5

14.9%

4.6

Aug-09

0.07560

10

Iraq

IQD

5182.2

35.1%

4.5

Aug-09

0.00088

11

Switzerland

CHF

4.6

11.5%

4.3

Feb-09

0.94410

12

Turkey

TRY

5.9

21.0%

3.9

Aug-09

0.67420

13

Poland

PLN

11.1

10.2%

3.9

Aug-09

0.35150

14

Australia

AUD

4.6

11.2%

3.9

Aug-09

0.84160

15

Algeria

DZD

277.3

20.6%

3.8

Aug-09

0.01354

16

S Korea

KRW

4462.7

15.6%

3.6

Mar-09

0.00082

17

Canada

CAD

3.4

6.8%

3.2

Aug-09

0.91660

18

Hong Kong

HKD

21.6

13.3%

2.8

Aug-09

0.12900

19

Egypt

EGP

14.9

13.3%

2.7

Aug-09

0.17970

20

Taiwan

TWD

85.6

10.8%

2.6

Jun-09

0.03042

I believe that the trend of countries flooding their monetary systems with
ever-expanding amounts of fiat money will erode the value of their respective
currencies. Dollardaze will continue to monitor the expansion of money supply
and its resulting effects on purchasing power.

Mike Hewitt is the editor of www.DollarDaze.org,
a website pertaining to commentary on the instability of the global fiat monetary
system and investment strategies on mining companies.

Disclaimer: The opinions expressed above are not
intended to be taken as investment advice. It is to be taken as opinion only
and I encourage you to complete your own due diligence when making an investment
decision.